You can tokenize anything in concept- right now it's just crypto + small number of stocks. It's slowly building out a distributed version of Wall Street. That is the value-add, and it doesn't need to do anything more than that for it to be revolutionary.

Loans in defi are over-collateralized right now meaning there's very little risk for the lenders. This will likely change as distributed identity/credit scores are implemented.

A couple examples of what's to come: https://cointelegraph.com/news/defi-s-critical-missing-piece... https://medium.com/minaprotocol/snark-powered-defi-teller-bu...